Research by Instant Offices highlights why Kuala Lumpur remains a dynamic hub of activity for domestic and international markets, despite some of the most expensive markets for office space falling in the Asia-Pacific region
Last year in Kuala Lumpur, supply of hybrid office space increased by 31%, while pure co-working space and serviced offices saw 10% and 7% growth respectively. An average desk rate of RM 886 across the city indicates the strength of the market.
Demand for space in the city continues to rise, and more businesses swap the constraints of traditional offices for flexible workspace and corporates. International firms are also making use of this low-cost, low-risk way of sampling the local market.
Number of Flexible Workspace Centres: 112
As reported in the Asia-Pacific Flexible Workspace Report last year, two innovative workspaces had been delivered in Kuala Lumpur for AMEX and IT company Datacom. The managed office solution saw 90,000 sq. ft. of flexible office space being delivered for over 1,100 employees.
In Kuala Lumpur, the government also has plans to use the tech in areas like safety, environment, energy, waste management and more. Outside of China, the region is the first to implement Alibaba’s City Brain tech, an AI platform that tracks cameras citywide to monitor traffic control and accidents.
The innovative and collaborative business culture has seen demand for flexible workspace grow in key cities across Malaysia.
More Key Areas in Kuala Lumpur for Business Include:
- Damansara Heights: an affluent, highly-developed area and one of the most sought after addresses in the city.
- Bangsar South: a fully integrated residential and commercial hub that boasts excellent transport connectivity and facilities.
- Mont Kiara: an affluent prime location in Kuala Lumpur, well connected by major highways with an abundance of green space.
- Petaling Jaya: A major Malaysian city and key commercial district, including retail hubs, hotels and attractions.
- Subang Jaya: Situated close to the Kuala Lumpur city centre and home to several higher learning institutions, Subang Jaya is a busy, fast-paced city.
Source From: http://www.worldpropertyjournal.com/